University of Illinois Urbana-Champaign

A theory of adaptive reference points in decision-making and negotiation

Bottom, William Paul

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https://hdl.handle.net/2142/21975

Description

Title
A theory of adaptive reference points in decision-making and negotiation
Author(s)
Bottom, William Paul
Issue Date
1989
Doctoral Committee Chair(s)
Weber, Elke
Department of Study
Psychology
Discipline
Psychology
Degree Granting Institution
University of Illinois at Urbana-Champaign
Degree Name
Ph.D.
Degree Level
Dissertation
Keyword(s)
  • Economics, General
  • Education, Educational Psychology
  • Psychology, Industrial
Language
eng
Abstract
Careful examination of the evidence relating to decision framing revealed a regularity not previously noted. A theory of outcome framing consistent with this finding is developed. An implication of the theory is that the formulation effect will be eroded under the types of experience available in competitive bargaining or in the marketplace. Two experiments were conducted to test hypotheses derived from the theory. Experiment 1 examined risky choice. Experiment 2 examined similar questions in the more complex context of two person bargaining. The results are very consistent. Decision makers or bargainers who are given a negative formulation have higher aspirations than those given a positive formulation. Subsequent experience leads to adaptation of aspirations and the partial erosion of the formulation effect. However adaptation is asymmetric. Lower aspirations rise readily with experience but higher aspirations do not decline with experience. The implications of these findings for the choice and bargaining literatures are discussed.
Type of Resource
text
Permalink
http://hdl.handle.net/2142/21975
Copyright and License Information
Copyright 1989 Bottom, William Paul

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Graduate Dissertations and Theses at Illinois PRIMARY
Graduate Theses and Dissertations at Illinois
Dissertations and Theses - Psychology
Dissertations and Theses from the Dept. of Psychology